megyn: i want to get to this soundbite from governor romney from the debate. he seemed to be talking about the different approaches. >> that manically, there are three ways we can cut the deficit. one, of course, is to raise taxes. number two is to cut spending, number three is to grow the economy. because if more people work in a growing economy, they are paying taxes and you can get the job done that way. the president would prefer raising taxes. i understand. the problem with raising taxes is that it slows down the rate of growth. you can never quite get the job done. i want to lower spending and encourage economic growth at the same time. megyn: he is talking about broadening the tax base, because if you lower the taxes, people have more money, they spend more money, the federal government takes in more. lou: it will is a result of the growth that it stimulates. but we have to put forward a very important caveat. this president has been in office ends 2009. he has not once performed at the tax code, has not once altered the direction of the tax, spending,